Richmond Man Receives Refund After TD Bank Mistakenly Seizes Funds
A Richmond, B.C., resident has received a significant financial refund from TD Bank following a case of mistaken identity. The bank has apologized to Le Zhang for incorrectly freezing his account and withdrawing approximately $7,800.
The issue arose when Zhang discovered the unexpected withdrawal on August 9. He learned that the funds were seized as part of a garnishing order related to a water damage claim. The order, involving around $19,000, was intended for another individual with a similar name.
Zhang, distressed by the situation, struggled to resolve the issue with the bank, which initially indicated that more funds would be withdrawn, leaving his account empty earlier this week.
An investigation revealed that Zhang did not own or live in the condo building associated with the claim. The bank admitted that incorrect information from a third-party tool used for legal and insurance matters led to the error.
TD Bank has since committed to fully reimbursing Zhang for the withdrawn amount and has offered an additional $5,000 for the inconvenience. Zhang, who is an education assistant and father of two, expressed relief at the resolution, noting his financial strain due to upcoming mortgage payments and bills.
The legal notice related to the claim had inaccurately listed Zhang’s name and an address where he previously lived but involved different building and unit numbers. The registered owner of the condo, contacted about the issue, said she was unaware of the claim and plans to investigate further.